OPENLANE (KAR) stock is skyrocketing in intraday trading, surging 16.95% and reaching $21.68, as the company reported stellar first-quarter earnings that significantly exceeded analyst expectations. This impressive rally puts the stock on track for its largest percentage increase since February 2022.
The auto vehicles, parts & service retailer reported adjusted earnings of 31 cents per share for the quarter ended March 31, 2025, substantially outperforming the mean analyst estimate of 21 cents per share. This result also marks a significant improvement from the 19 cents per share reported in the same quarter last year. Revenue for the quarter rose 10.5% to $460.10 million, surpassing the expected $446.01 million.
The strong earnings report has triggered a wave of optimism among investors, propelling the stock to its highest level since early March. OPENLANE's shares are now up 17.13% month-to-date and 9.27% year-to-date, showcasing a robust recovery from its 52-week low of $15.53 reached in October 2024. With today's surge, the stock is now just 2.78% below its 52-week high of $22.30, set on February 28, 2025. The current average analyst rating on OPENLANE shares remains a "buy," with a median 12-month price target of $24.00, suggesting further upside potential.
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